Investors still waiting after 100 days of Macron

2017年 8月 11日 Friday - 01:41

The French President's popularity has fallen over his first 100 days in office, partly thanks to government controversy. As Ciara Lee reports, investors have also been watching the latest economic data and wondering when Emmanuel Macron will carry out promised reforms.

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The relief after his victory was widespread.
Emmanuel Macron held the middle ground - the far right and the far left were firmly trounced.
But 100 days into his Presidency doubts are creeping in
(SOUNDBITE) (English) DAVID MADDEN, CMC MARKETS, MARKET ANALYST, SAYING:
"He was pro Europe, he was pro the euro. He's actually pro further EU integration which provided political stability. But we haven't really seen a whole lot of economic improvements."
The economic data has been better - the latest survey of private sector job growth in the second quarter showing the fastest rate of growth in six years.
But it was the 11th straight quarter of net new job creation, so Macron can't really take the credit.
So far he has also only spoken about his desired labour reforms - there's little sign yet of real change.
(SOUNDBITE) (English) DAVID MADDEN, CMC MARKETS, MARKET ANALYST
"He doesn't appear to have the confidence of his own voters so it's hard to make sure investors have similar confidence. His opinion polls have been pushing lower."
That's despite foreign leaders lining up to visit.
Many of them want Macron to be successful - it's just French voters who have a few issues.
(SOUNDBITE) (French) PARIS RESIDENT AND RETIREE FRANCE RICHARD SAYING:
"Things get announced, then they are contradicted, I think the new members of parliament aren't exactly on par but it's not their fault, they are young and inexperienced."
SOUNDBITE) (French) PARIS RESIDENT WHO WORKS IN CONSTRUCTION INDUSTRY FRANCOIS SAYING:
"For now, we're waiting for what comes next, so on the outside it seems fine but on the inside we're still waiting."
Investors aren't known for their patience.
And with industrial data in June showing a dip some economists are hoping Macron will be able to pull a few punches over the next 100 days.